SPC Financial Inc. Has $2.78 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

SPC Financial Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,697 shares of the information services provider’s stock after acquiring an additional 1,374 shares during the quarter. SPC Financial Inc.’s holdings in Alphabet were worth $2,782,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOGL. Bennett Selby Investments LP increased its position in Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after buying an additional 52 shares in the last quarter. Macroview Investment Management LLC increased its holdings in shares of Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after acquiring an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in shares of Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after purchasing an additional 53 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Addison Advisors LLC grew its position in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $160.67 on Wednesday. The stock has a 50-day moving average price of $184.35 and a 200 day moving average price of $176.56. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $146.08 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Bank of America reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Morgan Stanley cut their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.03.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock valued at $17,374,274. Insiders own 11.55% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.